The bypass valve as mentioned and the gasket size. One critical thing is the existence of a bypass. Most GM products have the bypass in the filter mount. Filters made for them don't have a bypass at all.
There is doubt about how important the bypass is, but I have read reports of a filter blowing off as soon as a car with the wrong filter was driven away.
Larger doesn't mean more media. In the past, I cut open a number of PF 1177's and equivalents. They were all the same size. None of the other brands had over 2/3 as much media. Of course, more media may not mean better either since the quality of the media may not be the same. Some smaller filters have more media packed in than than larger ones.
So as long as you don't end up with no bypass at all, likely any filter you have room for and screws on is OK. Better? For the same price, why not?
Me? I am still hoping to find a made in America filter by an American company with a thread end bypass for my truck. I might even accept a downsize.